New Incentives For The Film Industry - FOX 26 News | MyFoxHouston

New Incentives For The Film Industry

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Sacramento, CA -

(FOX 11) For years the California film industry has been fighting runaway production, but it hasn't been easy given all of the lucrative incentives other states and countries have been offering.

Today, State Senator Kevin de Leon is expected to introduce to the Senate a bill he negotiated and is reasonably certain the Governor will sign within the month. Basically, it provides $330 million dollars a year in tax credits for five years. It removes the lottery system which a lot of people considered unfair. Basically, if you qualified for tax credits, your production company would be in a lottery for those credits with others who similarly qualified. The new plan is 'priority based' and it's all about jobs. The 'priority' is for companies that create more jobs and bring more dollars into the state with their productions.

Proponents, like Mayor Eric Garcetti, originally wanted $400 million in tax credits to match what New York State offers. But, those supporting increasing and expanding the tax credit program seem very happy with DeLeon's plan. Teamsters Local #399, based in Hollywood, has 5000 members who work in the film industry. To the union's Secretary-Treasurer, Steve Dayan, this is a great deal for his members because "it will bring more jobs, more union jobs, to the state."

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